They say “comparison is the thief of joy” but sometimes, comparison can also be what motivates someone. There’s a fine line between comparison being useful and being very detrimental. How do you manage this?
For those who haven’t come across this helpful article on comparisons, this one might help:
Na. I don’t know enough about them. But even if I did, just why? No two traders or trades are the same. Comparing myself to somebody else whose had a different road and experiences won’t make me a better trader just from that fact alone.
I’ll learn from them. But comparing myself doesn’t seem very beneficial.
Yes, it is a good indicator of profit expectations. If a world-class trader earns 10, 20 or 50% in a year (ignoring the differences in available capital, trading ability, knowledge and experience, because each level of trading has its pros and cons), how do you with $100 capital, you want to make hundreds of percent? 
Ok, how I manage this? I use it as my target, people can do it, it’s possible. My task now is to improve my knowledge and skills to be a better trader with the tools that are within my reach.
Same. But also I feel like forex trading is such an individualistic pursuit that if you were to compare yourself you’ll be comparing yourself to like YT traders or idk like Mark Douglas lol.
Those who end up comparing themselves to other traders, where are you finding these other traders? 
(Maybe I shouldn’t ask lol I don’t really want to end up in that position)
Ok. Maybe i am one of the few who are comparing themselves constantly with others. I need to compare myself with other traders because i want to check if i am good enough. Unfortunately only few people on here are sharing their exact numbers.
You’ll have way more demo traders than live traders is why. And as soon as somebody says they’re profitable, the next question is how. And when they don’t share, people get mad.
I understand why people wouldn’t share.
Do you mean like here on the forums? Or like other traders on Twitter/YT?
Yes i mean here on the forums. I am not a social media guy. This forum is the only place i interact with people i dont know personally via internet. And i dont know other traders personally.
I have two, three traders i like to watch on youtube, but they are on a different level. I am just starting out. And they are stock traders. On the stock market there is movement somwhere everyday. I trade only two indices so my performance takes a hit if markets are slow for a week or two. I came here because i can not compare myself with professionals yet.
Well i get it, when someone in his first post claims to make 100% a month and starts a trading journal to record his way to a million, that people dont believe what they are told. But IMO this is because said trader is a newbie to the forum and doesnt share his risk %. But this is very important to analyze the % returns.
This i why i use R the monetary risk per trade to talk about my performance.
Nope!
I think all traders trade in different ways to fit there lifestyles etc so really the only trader I can really compare myself with is myself!
so 15% return achieved by algo trader is different from 15% return by discretionary trader? 
I asked CHATGPT-4 whether algo traders are superior to discretionary traders, and the following is the answer it provided.
" An algo trader may have certain advantages over a discretionary trader, but it is important to note that each approach has its own strengths and weaknesses. Here are some reasons why an algo trader might be considered superior to a discretionary trader:
Speed: Algo trading systems can process large amounts of data and execute trades much faster than humans. This allows them to capitalize on short-lived market opportunities that a discretionary trader might miss.
Accuracy: Algorithmic trading systems can execute trades with a high degree of accuracy and consistency, minimizing the possibility of human errors or miscalculations.
Emotionless trading: Algo traders are not influenced by emotions such as fear, greed, or biases. This can lead to more rational and disciplined trading decisions, as the algorithms strictly follow their predefined rules and strategies.
Risk management: Algo trading systems can be designed to incorporate strict risk management rules, such as setting stop-loss and take-profit levels, which can help protect capital and limit losses.
Ability to test and optimize strategies: Algo traders can use historical data to backtest and optimize their trading strategies before deploying them in live markets. This allows them to identify potential weaknesses and refine their strategies to improve performance.
Diversification: Algorithmic trading systems can simultaneously monitor and trade multiple markets, assets, or strategies, providing a higher degree of diversification and potentially reducing risk.
However, it is essential to acknowledge that algo trading also has its limitations, such as the risk of overfitting strategies to historical data, susceptibility to technical issues, and the challenge of designing effective algorithms that can adapt to changing market conditions. Discretionary traders, on the other hand, can utilize their intuition, experience, and flexibility to adapt to market changes more dynamically.
In conclusion, while algo traders might have some advantages over discretionary traders in terms of speed, accuracy, and emotionless trading, it is not accurate to say that one is categorically superior to the other. Both approaches have their strengths and weaknesses, and the best choice often depends on the individual trader’s skills, preferences, and resources. "
IMHO, I believe algo traders are far more superior for the primary reasons listed below:
(At the end of the day, a discretionary trader is just a mere street-smart gambler.)
that’s not what I meant, the way you trade is a tool to achieve your goal of being profitable. In conclusion, the 15% return of a discretionary trader and algo have the same value.
Definitely, one of my hobbies is checking out the market and figuring out how to trade. I like to compare my strategy and decisions with other traders to see who has the best plan. It helps me make smarter moves when it comes to trading.
For me, never.
As @samewise pointed out, you never really know enough about another trader to make any meaningful comparison. Furthermore, what’s the point? How does making a flawed comparison with someone you probably already have preconceived ideas about help you move your own trading career forward?
I much prefer spending my time comparing my current performance with my previous performance. I lose entire evenings poring over notes, statistics and journal entries. It helps me see if I am still making progress and, if not, to identify areas where I perhaps need to focus a little more.
I suppose, for me, it’s about having what Warren Buffett calls an Inner Scorecard.
Hey! Comparing yourself to other traders can be good or bad. Learning from others is helpful, but don’t let it make you feel bad about yourself. Focus on your own progress and strengths, and use others’ successes as motivation.
That sounds interesting! Have you ever tried using other traders’ strategies? Did it help you improve and make a profit?
I used to compare myself to other traders until this one eye opening day. A friend posted a photo of himself in an Audi R8 on IG and claimed to have bought it with his trading profits. I was so shocked at the way his followers praised him. Some went as far as calling him the trading GOAT.
There I was, knowing perfectly well that his account was on the red and has never made a single withdrawal out of his $500 account (which was obviously floating lower due to the losses).
That was an eye opener. I could have compared myself to him if I didn’t know.
BTW, he was a sales person at Audi Centre in Fourways, Johannesburg, South Africa, in case you were wondering about the R8.
